REAL WORLD EVENT DISCUSSIONS

Oh Canada..... really?

POSTED BY: 6IXSTRINGJACK
UPDATED: Monday, October 29, 2007 09:05
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VIEWED: 1612
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Sunday, October 28, 2007 4:47 AM

6IXSTRINGJACK


Well... contrary to popular belief (popular belief, in this case, being what a majority of my multiple personalities believe), Lorne Michaels, Avril Lavigne and Mike Meyers aren't the only ones in Canada with money.

http://money.cnn.com/2007/10/24/news/international/canadian_dollar.for
tune/index.htm


Imagine my lack of suprise when I discovered that our representatives failed to do anything this week about blocking a sale of an 8.5 billion dollar bank to the Canucks. Ed Clark, CEO of Canada's Toronto-Dominion Bank (Charts), just bought up New Jersey based Commerce Bancorp. Nice.... word is when he planned it originally, Canada's loonie was only worth 90 cents to our dollar, but when the deal went down it was at parity with the US dollar and saved Ed almost a hefty billion dollars.

But don't worry. With the dollar so low, manufacturing jobs will be making their way back stateside. It will be just like the 70's, except all the companies will be owned by Canada, Japan and China and we'll be working for slave wages this time around.

You didn't think all of that cheap labor and goods were really free, did you? Now it's time to pay the proverbial piper, as it were.

I move we boycott Saturday Night Live now before we go to war with Canada. Sorry Lorne...

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 4:48 AM

6IXSTRINGJACK


I just saved a lot of money on my car insurance by switching to Canadian currency!

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 5:54 AM

GINOBIFFARONI


Hey, Americans elected those who ran your economy into the ground, don't look any farther than that to lay the blame.


As for the jobs moving back, dont hold your breath





The Alliance said they were gonna waltz through Serenity Valley. And we choked 'em with those words. We've done the impossible, and that makes us mighty.

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Sunday, October 28, 2007 2:45 PM

MISSTRESSAHARA


So why do we have to be dragged into this? We have enough to deal with with the prices of things going up despite the loonie doing well, Hospitals continuing to lose beds, nurses and doctors, crime rising and justice falling, and 4 friggen political parties who are in it for themselves and don't give a shit about the Canadian populous.

Go point the finger somewhere else, we have too much shit to contend with.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~
~Peter*Peter*Power>~re-peater~



HEROES IS MY CRACK!

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~


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Sunday, October 28, 2007 3:15 PM

6IXSTRINGJACK


LOLZ.... not blaming Canada MS or other dude.

I would be buying up shit here too if we allowed it, which apparently we are. I'm blaming the idiots we have running our country. If I can even call it our country anymore.

Shit makes me sick.

And yes.... jobs will be making their way back here when the dollar falls enough. Unfortunately, I fear, we will have sold all of our major corporations away and we won't own any of them anymore.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 3:26 PM

SIGMANUNKI


American companies have been buying out Canadian companies and moving into Canada for a *long* time. To complain about the reverse is rather hypocritical.

The pendulum swings back and forth. Everything evens out in the end.

----
I am on The List. We are The Forsaken and we aim to burn!
"We don't fear the reaper"

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Sunday, October 28, 2007 3:46 PM

6IXSTRINGJACK


I'm not being hypocritical at all. The fact that your country's leaders allowed the US to buy out corporations in Canada is your people's problem, just as it is ours now that the reverse is happening.

I think you seem to think I have a problem with your average everyday Canadian, and nothing could be further from the truth. You and I are the ones that get screwed in the end. Not the billionaires who do this.

Just think.... that $8.5 billion dollar buyout that just occured actually occured after hundreds of formerly privately owned banks in America had been driven out of business and bought out.... now they're going to Canada. Can you see where I have a problem with this?

Our representatives should be busy protecting the American people from things like this, but they're too busy distracting us with an illegal war. Anyhow, too many Americans are too stupid to even realize that stuff like this is a problem in the first place. Did you notice how the article didn't even put a single ounce of negative spin on the acquisition? How can somebody know to be outraged if they aren't told?

It's just like the American sit-com. Your average American wouldn't even know when to laugh if they didn't have a laugh track in the background to tell them. I suspect the same could be said of all humans in the end.

I mean... just look at what Bollywood is doing to India.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 4:37 PM

LEADB


Unhappy with Canada for purchasing our banks? You realize this leaves Canadians holding a whole bunch of dollar demoninated investments, while allowing the US folks to turn around and invest the Loonies in Euro-denominated holdings using a currency much more acceptable than dollars are these days? Heck, this is the kinda thing we folks in the US have got to be doing until the dollar settles back down. Thanks for the hard currency infusion!

I wee bit more seriously, dollars are going to be coming home to roost. They will be used to buy businesses out right, stocks, bonds, real estate. Did someone think we could run a trade deficit indefinitely? Sigh.

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Sunday, October 28, 2007 4:50 PM

6IXSTRINGJACK


Quote:

Originally posted by leadb:
Did someone think we could run a trade deficit indefinitely? Sigh.



Heh... my grandpa always said that the deficit would be the ruination of the country. Well... that and TV. I know from personal experience he's been saying it at least as long ago as when I was 5 years old and he told me I better save my money when I can make it because there would be no social security left for me.

And I don't want any fusion of currency with Canada, but I'm more concerned when our representatives will allow hostile countries, such as China, to buy up our seaports and airports... perhaps our highways or water facilities. All of the things the Government used to have but they're selling to companies so they can make their budgets which are spiraling out of control. I don't like the idea of drinking water that a Chinese corporation controls. Nor do I like the idea of paying tolls on a toll road that are going to China to fund a future war with America.

This Canadian bank merger is just the tip of the iceberg.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 5:09 PM

FLETCH2


Why would China start a war? They can just buy the place.

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Sunday, October 28, 2007 5:15 PM

LEADB


Quote:

Originally posted by 6ixStringJack:

And I don't want any fusion of currency with Canada, but I'm more concerned when our representatives will allow hostile countries, such as China, to buy up our seaports and airports.

Ok, I have to admit, it rather bothered me about the seaports as well. Some things just ought to be owned by / within the country in question; and seaports is one of those things.

For some reason, the Bank issue doesn't particularly bug me. 'Course, I do business with my locally owned and operated Credit Union. Maybe that's why it doesn't bug me.

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Sunday, October 28, 2007 6:03 PM

6IXSTRINGJACK


Quote:

Originally posted by Fletch2:
Why would China start a war? They can just buy the place.



True. Their war will be as slow and as silent as Mexico's war against America has been.



Leadb - Yup... that's what I'm saying. The bank issue only bothers me really because it's just part of a much greater problem. When it comes down to it, banks are nothing but repositories for the FED's printshops. I'm much more concerned about our seaports, airports, water, oil, crops, etc....

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 8:44 PM

FLETCH2


Well I hate to say it but welcome to the world everyone else lives in. National companies being taken over by foreign firms has been commonplace in the rest of the world for the last 50 years. Of course back then the buyer tended to be Americans. If we got upset about it we were accused of petty nationalism and an inability to deal with the modern (American) world. At the same time we knew that it was almost impossible for a European firm to buy out an American "big name" because such a takeover would never make it past Congress. That was the advantage of being the big dog, you could make the rules that you expect others to live by but not follow them yourself. Seems America has to play by the same rules now.

So I'm sorry to tell you this but you're just displaying petty nationalism and an inability to deal with the modern (none American) world.

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Sunday, October 28, 2007 9:44 PM

6IXSTRINGJACK


Opinion duely noted, and you can kiss my ass fucko.

There is absolutely a way we can stop this. If our representatives won't do it, there will be a civil war. Plain and simple.

EDITED TO ADD: And it's not as if foreign countries are coming here and demanding that we give them these properties. It's greedy assholes at the top who need even more money for their hookers and blow that are selling us out. And every goddamned politician in this country is in somebody's pocket so they have to play ball. It's sick. America will be the first country who will have sold itself away and died without not only a fight, but without the knowledge that it was even dying in the first place.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 10:00 PM

FLETCH2


Quote:

Originally posted by 6ixStringJack:
Opinion duely noted, and you can kiss my ass fucko.

There is absolutely a way we can stop this. If our representatives won't do it, there will be a civil war. Plain and simple.



No there isn't ---- not if you want American companies to be able to do the same (and you do.) The point was that back then the US had the biggest economy by an order of magnitude over everyone else. Nobody would deliberately block a US company making an acquisition because nobody wanted a reprisal from Washington. Likewise foreign companies just had to take it if regulations/trade/antitrust (or whatever reason Washington came up with that week) seriously delayed or scuppered US acquisitions.

Now the US is in the same possition as everyone else is. If the US government blocks too many foreign take overs the value of dollar denominated debt will fall --- US debt will end up with junk bond status which is bad news when you are borrowing the money to finance the war. So I think you'll find that if there are folks with funds US companies will end up being bought, just like firms in other countries.

As for thoughts of rebellion over this we are talking private property here and I notice you are one of the folks that talks most strongly about keeping government out of your life. Congress blocking a sale of a private business is the same kind of meddling as them deciding who you could sell your house to, do you really want the Fed to determine how you can sell private property?

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Sunday, October 28, 2007 10:11 PM

6IXSTRINGJACK


That's not true, and don't bastardize my words or call me hypocritical. I am most definately of the school of thought that our government should not meddle with my life, but our Federal government was designed to protect this country and its citizens from things specifically like this. If they weren't so busy breaking laws, pissing on the constitution and carrying out illegal and unconstitutional wars overseas, maybe they could keep the Mexicans out, begin to pay the deficit off with the surplus and keep our resources out of the hands of hostile foreign countries.

Our government needs an enima.


EDIT: And by the way... your threats of the dollar's value crumbling are not scary to me at the least. We're still in a position where the rest of the world's economy will fall apart if that were to happen. August was very good proof of that.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Sunday, October 28, 2007 10:20 PM

FLETCH2


You are a hypocrite. If claim that your property is your property and that the government has no business telling you what to do with it. But if I own a port, you are saying that my property isnt my property and the government can stop me from selling to whoever offers me the best price. I call bullshit.

Sounds to me that you're the kind that says fuck the government only when they try to stop you from doing what YOU want. Otherwise you are perfectly happy to use that same government power to bully others into doing what YOU want.


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Sunday, October 28, 2007 10:51 PM

6IXSTRINGJACK


Bullshit asshole. It is not in our National interest to sell our resources and the companies that make money off of them to foreign interests. It is simply a matter of national security... the kind that matters. I don't want China collecting taxes from Americans by buying our roads from our Government. I don't want China to have free acces to our seaports and airports because they were sold to the higest bidder, which may be Google someday.

Our shit for brain sellouts running the show will not block hostile countries such as China from purchasing our companies, yet at the same time, they will claim imminent domain over my house so Wal Mart can put a parking lot over it.

I am not a hypocrite. I am however, staunchly against globalization. I don't give a shit if you have a problem with my Nationalism. Go fuck yourself.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Monday, October 29, 2007 1:58 AM

LEADB


Quote:

Originally posted by Fletch2:
You are a hypocrite. If claim that your property is your property and that the government has no business telling you what to do with it. But if I own a port, you are saying that my property isnt my property and the government can stop me from selling to whoever offers me the best price. I call bullshit.

{Port ownership} Comes to national security issues; and much of that can be covered with sufficient laws and oversight. Consider drug smuggling, weapon smuggling, illegals smuggling, etc. Personally, I think -every- country should own it's -own- ports.

As far as businesses in general getting sold out, that's just a natural comeback from decades of trade deficits.

Edit: Sorry, on re-read, I realized I had left out a key phrase; it might have been obvious that I was alluding to ports; however, I have added it in {} above.

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Monday, October 29, 2007 3:54 AM

FLETCH2


Quote:

Originally posted by 6ixStringJack:

I am not a hypocrite. I am however, staunchly against globalization. I don't give a shit if you have a problem with my Nationalism.




This isn't "Globalisation" nobody is beating you over the head with the WTO to force you to do anything. This is business as usual. Most of the resources that this country uses dont come from places like Kansas but from Africa or the Mid East or South America and in most cases it is a US company that pulls that stuff out of the ground. If they all said the same thing, that their oil/metals/agro products were theirs and strategic industries should not be owned by "Foreigners" then where would you be?

Listen to the outrage in Washington or on Wall St when folks like Chavez nationalise their strategic industries which is incidentally what you are talking about. Folks are talking about toppling him for just this reason.


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Monday, October 29, 2007 4:45 AM

CHRISISALL


"My, this isn't very nice.

Bad language makes for bad feelings!

...and now a word about nutrition..."

RoboChrisisall

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Monday, October 29, 2007 6:09 AM

FLETCH2


Quote:

Originally posted by leadb:
Quote:

{Port ownership} Comes to national security issues; and much of that can be covered with sufficient laws and oversight. Consider drug smuggling, weapon smuggling, illegals smuggling, etc. Personally, I think -every- country should own it's -own- ports.

As far as businesses in general getting sold out, that's just a natural comeback from decades of trade deficits.

Edit: Sorry, on re-read, I realized I had left out a key phrase; it might have been obvious that I was alluding to ports; however, I have added it in {} above.





It might not seem so but I actually have a lot of sympathy for Jack's position and I can understand exactly where he's coming from however the fact remains that --

1) This IS business as usual for most of the rest of the world. When Ford buy's Volvo, or Landrover it is exactly the same kind of thing as we are talking about. The current system has always favoured US companies because the US financial markets have always been more willing to lend money for acquisitions. It makes Jack's understandable outrage especially ironic.

2) There seems to be a certain amount of cherry picking in the way some folks view "the Government." When the gov does something that they dislike then it's meddling and heads should roll, government should be scrapped etc. However these same people seem awfully keen to use that same gov power to meddle when it suits their agenda. Telling someone that they can't sell their own property is the same kind of power as the using eminent-domain-to-build-a-Walmart example. If you accept that the government has the power to control the sale of private property for economic interest then that could include grabbing your house for Walmart.

The reality is that this kind of thing will become more and more common. The UK used to have 2 car "groups" much like the US "big 3" there are currently none in UK ownership. One day Ford may be a Chinese owned company.

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Monday, October 29, 2007 8:09 AM

LEADB


There's always a bit of that; what is too much and too little government interference? In the case of ports, I'm prepared to permit more of an exception; it is something with serious national security / integrity issues. Obviously, congress et. al. didn't see it that way, and to be honest, while it concerns me, it didn't concern me enough to write my 'duly elected representative'; so I'm just spouting opinion here.

I understand the concerns as well, but the same thing which would stop foreigners from investing in US companies would block retirement fund purchasers in the US from buying shares in, say, Euro based companies. Hopefully, things will balance out in the long run. I guess if I wished anything to happen, I'd wish US consumers to wake up to the fact that running a long term trade imbalance is problematic; but that's a pipe dream in all likely hood.

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Monday, October 29, 2007 9:05 AM

FLETCH2


I also note that Jack is a little late in the game. A few years ago when I visited my inlaws in Chicago I noticed that the LaSalle bank has as it's symbol the green and yellow shield of ABN AMRO -- a Dutch bank that I had the misfortune of being a customer of once. It seems LaSalle has been owned by AMRO for years.

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